Format and Ranking: Senior, Unsecured, Bearer, NGN
Currency/Size: €500m (WNG)
Pricing Date: 21-Jul-26
Settlement Date: 28-Jul-26 (T+5)
Maturity Date: 28-Jul-29
IPTs: MS + 85 bp area
Use of Proceeds: General corporate purposes
Interest Payment: [•]%, annually in arrear, payable on 28 July in each year commencing on 28-Jul-27 up to and including the Maturity Date
Early Redemption: Make Whole + [•]bps, 1 month par call
Day Count Fraction: Actual/Actual (ICMA)
Business Day Convention: Following, Unadjusted
Business Days: London, T2
Listing: London Stock Exchange (Main Market)
Clearing: Euroclear and Clearstream, Luxembourg
Governing Law: English law
ISIN / Common Code: XS3450069748 / 345006974
Denominations: EUR 100,000 and integral multiples of EUR 1,000 in excess thereof
Documentation: The Issuer’s USD 12,500,000,000 Euro Note Programme, including the Offering Circular dated 29-Aug-25, as supplemented by Supplemental Offering Circulars dated 29-Sep-25, 14-Nov-25 [and 17-Jul-26]
Selling Restrictions: Reg S, Cat 2 No sales to retail investors in the EEA or the UK Japan, PRC, Hong Kong, Singapore, Taiwan, Australia as set out in the Offering Circular
Target Market: MiFID II/UK MiFIR professionals/ECP-s only. No EU PRIIPs or UK disclosure document required by DISC has been prepared as not available to retail in the EEA or UK.
Fees: The Joint Lead Managers will be paid a fee in connection with this transaction
Joint Lead Managers: BNP Paribas, MUFG, NatWest
Timing: Books open, today’s business
Advertisement: The Offering Circular and the Supplemental Offering Circulars are, and the final terms, when published, will be, available on the website of the London Stock Exchange.